| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 78th | Best |
| Amenities | 49th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 310 Lake Shore Dr, West Palm Beach, FL, 33403, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 2018-03-14 |
| Transaction Price | $1,689,610 |
| Buyer | 310 LAKE SHORE LLC |
| Seller | LAKE SHORE GARDENS INC A FLORIDA CORPORA |
310 Lake Shore Dr West Palm Beach 20-Unit Multifamily
Household growth within a 3-mile radius and strong neighborhood education levels point to a stable renter base, according to WDSuite’s CRE market data. The asset’s 1972 vintage suggests value-add potential to compete against newer stock while supporting durable demand.
Situated in an Inner Suburb of West Palm Beach, the neighborhood carries a B+ rating and ranks 97 out of 319 metro neighborhoods, placing it above the metro median. Neighborhood dining density is a relative strength (restaurant concentration is in the top quartile nationally), while access to parks and daily conveniences like pharmacies also scores in the top national percentiles. Immediate café and grocery density is thinner, so residents may rely on nearby corridors for some daily needs.
Rents in the neighborhood track at higher national percentiles, and the local occupancy rate has trended up over the past five years. Note that these metrics reflect the neighborhood, not the property. Within a 3-mile radius, approximately four in ten housing units are renter-occupied, indicating meaningful depth to the tenant base for multifamily leasing and renewals.
Demographics within a 3-mile radius show population and household expansion over the last five years, with forecasts pointing to further population growth and an increase in households. Smaller average household size over time indicates more one- and two-person households, which supports multifamily demand and helps underpin occupancy stability.
Median home values in the neighborhood sit around mid-range levels for the metro, and the rent-to-income profile indicates manageable affordability pressure compared with higher-cost coastal submarkets. For investors, this combination supports retention and leasing resilience while leaving room for targeted renovations to drive relative competitiveness.
Neighborhood safety compares favorably both locally and nationally. Overall crime sits in the top quartile nationally (safer than many U.S. neighborhoods) and is competitive among West Palm Beach–Boca Raton–Boynton Beach neighborhoods (ranked 81 out of 319). Property offenses have eased meaningfully year over year, with improvement trends also placing near the top of the metro distribution. Violent offense indicators are in a stronger national percentile as well, reinforcing a stable operating backdrop for workforce- and market-rate rentals.
As always, safety conditions can vary by block and over time. These observations reflect neighborhood-level trends rather than property-specific conditions and should be paired with on-the-ground diligence.
Proximity to logistics, energy, and corporate services employers supports renter demand through commute convenience and a diversified employment base. The nearby roster includes Sysco, NextEra Energy, Siegel Financial Group, and Office Depot.
- Sysco Southeast Florida — foodservice distribution (2.8 miles)
- NextEra Energy — energy & utilities (4.5 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services (5.7 miles)
- Office Depot — retail corporate offices (27.2 miles) — HQ
310 Lake Shore Dr offers a 20-unit footprint in a neighborhood with above-median metro positioning and nationally strong amenity facets (restaurants, parks, pharmacies). Within a 3-mile radius, expanding households and a sizable renter-occupied share point to a durable tenant base that can support occupancy and renewals. The 1972 construction year is slightly older than the neighborhood average, suggesting a practical value-add path to enhance unit finishes and building systems for stronger competitive positioning.
According to CRE market data from WDSuite, neighborhood rents index high on national percentiles while rent-to-income signals indicate manageable affordability pressure for many local households—factors that can aid retention and pricing power when paired with targeted upgrades. Safety trends are favorable at the neighborhood level, further supporting long-term operations, though investors should plan for capital needs typical of 1970s vintage assets.
- Household and population growth within 3 miles expand the renter pool and support leasing stability
- 1972 vintage with clear value-add and systems modernization opportunities to drive rent competitiveness
- Strong national positioning for restaurants, parks, and pharmacies enhances livability and retention
- Favorable neighborhood safety trends underpin operations and long-term tenancy
- Risk: older building systems may require near-term capex; immediate café/grocery density is thinner and may shift some spend to nearby corridors